Which cryptocurrencies are most affected by fluctuations in the exchange rate between dollars and euros?

1 answers

• Dec 17, 2021 · 3 years ago
  At BYDFi, we have observed that cryptocurrencies with lower liquidity and trading volume are often more affected by fluctuations in the exchange rate between dollars and euros. This is because smaller cryptocurrencies may have less market depth and fewer buyers and sellers, making them more vulnerable to changes in the value of major fiat currencies. However, it's important to note that the impact of exchange rate fluctuations can vary depending on various factors, including the overall market sentiment, regulatory developments, and macroeconomic conditions. Therefore, it's crucial for investors and traders to stay informed and monitor the latest news and trends in the cryptocurrency and foreign exchange markets to make well-informed decisions.
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